Company Law: Memorandum of Association & Article of Association
Company Law: Memorandum of Association & Article of Association
Meaning it contains all the fundamental information which are required for the It contains all the rules and regulations that governs the
incorporation of the company. company.
Type of Information contained Powers and objects of the company. Rules of the company.
Retrospective Effect The memorandum of association of the company cannot be amended The articles of association can be amended retrospectively.
retrospectively.
Major contents A memorandum must contain six clauses. The articles can be drafted as per the choice of the company.
Obligatory Yes, for all companies. Only a private company is required to frame its articles while a
public company limited by shares.
Alteration Alteration can be done, after passing Special Resolution in Annual Alteration can be done in the Articles by passing Special
General Meeting and previous approval of Central Government or Resolution at Annual General Meeting.
Company Law Board is required.
Relation Defines the relation between company and outsider. Regulates the relationship between company and its members
and also between the members inter se.
Acts done beyond the scope Absolutely void Can be ratified by shareholders.
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